Zacks Equity Research released an updated report yesterday predicting steady growth for Crown Castle International as it heads into 2017. The company cited Crown’s “extensive tower portfolio, high demand for tower infrastructure, strong business outlook, healthy leasing activity and growing demand for mobile broadband” as reasons for the optimistic outlook, in a press release.
Over 90 percent of the company’s quarterly revenues come from wireless service providers, who are expected to greatly expand features and capabilities in coming years and need the wireless infrastructure to do so, notes the report.
The document also notes the company’s growing involvement in small cells and the Internet of Things. In 2015, Crown Castle purchased Sunesys, an acquisition that increased its fiber infrastructure by about 10,000 miles. Wireless carriers investing in IoT technology will bring increased revenues for Crown Castle, predicts Zacks.